Wednesday, September 07, 2005

Empty Buildings and Rent

I currently have a nice, brand-new, 10,000 square foot building that is finally done and ready to rent. Originally, I was going to use this for the tent business, but that plan has changed. So how do I rent it out?

Experience tells me that using a realtor to find tenants is not the way to go. Why? It is a matter of economics. Realtors are set up to sell houses or land. They suck at renting things. A lease is much more complicated than a purchase contract. There are just too many variables. In addition, the landlord and tenant will need to work together for a number of years after the realtor has moved on. Having a middleman realtor doesn't help in the relationship building.

The do it yourself method works as follows:

1. Create color fliers with all the details and pricing.2. Take a little time to make a webpage for the building.3. For commercial rentals, the signage is the most important. Signs on the building are best.4. Narrow your marketing to the Chamber of Commerce.5. Call likely businesses and network your butt off.

So I am just getting started on this. I hope to have the webpage done in the next couple of days. The fliers and the signs are being printed now.